How much is the AUD traded?

Currency symbol and ISO-code

The only official ISO code as currency traders and money exchange offices are using is AUD.

History of the Australian Dollar

In 1966 the Australian Dollar ($AUD) replaced the old currency, the Australian pound (£ AU). The initial conversion rate was two dollars per pound or ten shillings per dollar. Exchange rate was fixed against the pound sterling at an exchange rate of 1 pound = 2.5 U.S. dollars (8 shillings = 1 AUD). The following year, Australia gave up the pound. When pound sterling devalued in 1967 against the U.S. Dollar, the Australian Dollar did not comply.

Currency Crises with AUD

In 2008, the AUD dropped sharply, despite the long interest rates were relatively high compared with other major trading partners. In late 2009 to early 2010, however, the Australian dollar showed a strong recovery.

Reserve Bank of Australia

Low unemployment rate: The maintenance of full employment in Australia.

Economic motives: Economic prosperity and welfare for the people of Australia.

Online Forex Trading with Australian Dollar

Australian Dollar (AUD) is part of the 6th most traded currency pairs. Trading currency with AUD are common among both individuals and international companies that have foreign exchange exposure to Asia and the Pacific. The economy and the government is relatively stable. Australia and it’s currency is heavily affected by fluctuations in commodity prices – and investing in AUD gives favorable diversification opportunities. It has traditionally been a good carry currency, which you can earn interest if you keep it, because interest rates were often higher in Australia than in many other major currency areas. AUD has also become popular among currency traders because the Australian government do not intervene as much in the currency market.